......And the same security in H4 timeframe.. 
- #422
- Edited Mar 19, 2017 1:01am Mar 18, 2017 9:53pm | Edited Mar 19, 2017 1:01am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Is this valid?? My first analysis actually. Apologizing in advance if anything wrong. {image}
Thanks for using the template and for clearly marking everything out. It helps me a lot as my eyes are very sensitive.
I never want to dissuade someone from taking or not taking a trade as I certainly don't have all the answers but there are a couple of things I see with this trade that may present a problem.
First off, when I mapped this out it shows that XB is actually a bit less than parallel, so structurally this wave isn't technically valid. Not a deal breaker but certainly something to be aware of.
More importantly, there is a subsequent new wave developing here. Notice right now price is at a minor resistance, and then notice that the major resistance falls exactly where this new wave completes at the AB=CD level. I tried to make it clear on the chart. Also interesting is the spot where price reversed on your initial wave, exactly at point C of the new wave. Probably not a coincidence.
CAD/JPY DAILY CWW
I'll preface this next chart by saying I am in my infancy in studying Gann angles. One thing I do know is they supposedly work better on higher time frames. Gann angles are unique in that they map out price AND time. I put a Gann angle on our chart and it seems to paint an interesting picture.
Gann theory says that when price breaks through one angle it is likely to continue to the next angle. In our scenario the 1x1 (45 degree) angle has been broken and price is heading towards the 1x2 angle. Interesting to note on our new wave that the 1x3 Gann angle crosses very near the ETA (Estimated Time of Arrival), which just happens to be near the 200FIB AND AB=CD completion level. Is price heading down to that point of confluence? I don't know but if it breaks through the 1x2 Gann angle, it could be.
Here is the same chart as above but with the Gann angles shown
CAD/JPY DAILY CWW WITH GANN ANGLES
Anyways ,that's my analysis for the chart you posted. I hope it helps in some way. Thanks again for posting and good trading to you. Please feel free to post any charts that you have questions about or anything else you want to share with us.
Regards,
-Kurt
Pride always comes before destruction.... -Proverbs 16:18
- #423
- Mar 18, 2017 10:07pm Mar 18, 2017 10:07pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #424
- Mar 18, 2017 10:13pm Mar 18, 2017 10:13pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #425
- Mar 18, 2017 10:31pm Mar 18, 2017 10:31pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #426
- Edited Mar 19, 2017 2:35pm Mar 18, 2017 10:39pm | Edited Mar 19, 2017 2:35pm
- | Joined Jun 2012 | Status: Analyst | 3,688 Posts
- #427
- Edited 11:32pm Mar 18, 2017 11:14pm | Edited 11:32pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
What do you think? NZDCAD weekly. AB=CD. AC = BD. Expecting retracement .9475 ( 50%) to .9545 (76%). {image}
Ironically, I had been tracking a very nice CWW on the NZD/CAD weekly but the structure, although still valid, started to break down over the last month.
NOTE: The confluence between the AB=CD completion level and the 161FIB is pretty amazing, especially for a weekly chart!
NZD/CAD CWW WEEKLY
Pride always comes before destruction.... -Proverbs 16:18
- #430
- Mar 18, 2017 11:54pm Mar 18, 2017 11:54pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #431
- Mar 19, 2017 12:08am Mar 19, 2017 12:08am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #433
- Mar 19, 2017 1:14am Mar 19, 2017 1:14am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
{quote} keep up your approach. Remember you can't please everyone in the world. Focusing only on wolfe wave is good for the progress of this thread. Keep the positive vibes here going!!!
Well, we made it over 400 posts before our first awkward moment. I think maybe something was lost in the translation. Onward we go!
By the way, I will be flying to Florida for vacation on the 23rd and getting on a Royal Caribbean cruise ship with my 5 year old daughter. I am meeting some family that winters down in Florida. I will be totally off line during the cruise from the 25th to the 30th. The rest of the time I will only be able to view this thread from my phone as I promised the family I wouldn't bring my laptop with me. Back home on April 2nd.
Bottom line, I hope the thread stays at least somewhat active. I trust you'll step up your game
This thread has blessed me tremendously. I think I have learned more since I started this thread than I have in the past 3 months
Pride always comes before destruction.... -Proverbs 16:18
- #435
- Edited 4:49am Mar 19, 2017 4:37am | Edited 4:49am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Consider this a failed example? Or stoploss not wide enough? Edit: I just found out that if the start of C leg is robust or very volatile, it's usually bad for the CD leg or it may extend longer CD LEG VARIATIONS These CD leg phenomena can be described in four ways: 1. If after point C has occurred a gap exists in the direction of point D, this usually indicates that the CD leg will be much greater than the AB leg1.272, 1.618, or more. 2. A wide range bar (twice normal size) at point C is another indication that the CD leg could become extended....
1) Original bounce lower from AB=CD = 1.4032 was about 15 pips, so there would have been the opportunity to move SL to BE.
2) Very volatile pair. In hindsight a 30 SL would have covered it. That's not really that big of a SL considering a minimum move back to the X level was about 60 pips. Smaller position sizes needed for sure.
3) Big 2 candle D leg power move up automatically makes the candle symmetry very bad so a warning signal right from the start. Zooming out to the hourly and waiting for a TDI cross takes away the uncertainty of that whole volatile sweet zone.
4) Plenty of other opportunities. I think just the act of passing is a very good mental exercise in patience and is a building block to becoming a ninja type Wolfe wave stalker!
With due diligence we can always attempt to find a solution to our problem: Where do we enter the trade?
All in hindsight but this is how we can train ourselves to look at our problem from multiple angles (no pun intended)
Zooming out to the hourly, I built the Gann angles using the Fib fan and look what it shows. The AB=CD completion level is still in "no mans" land. Price had broken north through the previous Gann angle, had a little re trace at the AB=CD level then continued north for one last surge EXACTLY to the next Gann angle before heading down 100 pips!!
EUR/AUD HOURLY GANN ANGLE ILLUSTRATION
Pride always comes before destruction.... -Proverbs 16:18
- #438
- Mar 19, 2017 6:03am Mar 19, 2017 6:03am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
{quote} Well according to WW theory the actual wave would have been complete long before where the indicator shows point D. That's why I asked in my previous post how the indicator decides where the wave is complete because in this example the D point doesn't remotely line up with the sweet zone theory.
there is another very important factor in detection of ww by this indicator , and that is the setting of ExtDepth input ,here i will show two picture of the same pair and time frame ,one with ExtDepth set to 6 and the other to 12 , as you noticed the 6 one detect earlier CWW:
OH by the way ,images are from the newest version that i am still working on it , it is supposed to detect other harmonics ,in addition to WW
